DBRS Places Irish Guaranteed Debt of the Bank of Ireland UR-Negative, at A (low)

DBRS, Inc. (DBRS) has today placed the A (low) long-term ratings and R-1 (low) short-term ratings of the Irish Government Guaranteed instruments issued by The Governor and Company of the Bank of Ireland (Bank of Ireland or the Group) Under Review with Negative Implications.

This rating action follows DBRS’s placement of the A (low) ratings of the Republic of Ireland Under Review with Negative Implications. Today’s rating action does not impact the other ratings of the Bank of Ireland, including its Non-Guaranteed Long-Term Deposits and Non-Guaranteed Long-Term Debt ratings, which remain at BBB (high) with a Negative trend.

Notes:
All figures are in EUR unless otherwise noted.

The principal applicable methodology is the Global Methodology for Rating Banks and Banking Organisations. Other methodologies used include the DBRS Criteria – Intrinsic and Support Assessments. Both can be found on the DBRS website under Methodologies.

The sources of information used for this rating include DBRS ratings for the Republic of Ireland. DBRS considers the information available to it for the purposes of providing this rating was of satisfactory quality.

This credit rating has been issued outside the European Union (EU) and may be used for regulatory purposes by financial institutions in the EU.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

Lead Analyst: Steven Picarillo
Rating Committee Chair: Roger Lister
Initial Rating Date: 6 September 2005
Most Recent Rating Update: 18 October 2011

For additional information on this rating, please refer to the linking document under Related Research.